Notable economic contributions by Prague Convention Bureau

Economic Contributions and significant participation in GDP have been delivered by the robust marketing initiatives of the Prague Convention Bureau over the last 10 years. MICE INDIA shares a comprehensive number report

Bindiya | MICE INDIA | 4 April 2018

The journey of Prague Convention Bureau started 10 years ago, with a mission to create and boost the image of Prague as a preferred MICE destination; network with the stakeholders and event organizers to arrive on a common floor; and to make positive contributions to the domestic GDP.

10 years later, today, as one looks back at the Bureau journey, there are many more reasons to celebrate and not just that the mission with which the Bureau started has been achieved. A look at some of the significant contributions by the Prague Convention Bureau:

Economic Contributions – PCB

The not-for-profit organization has acquired over 630 congresses, conferences and corporate events (in the past 10 years) with a delegate attendance of almost 293,000

As far as its contribution to GDP, Prague’s meetings industry has been one of the major economic contributors for the city; with 1.1{3fa1768a34f590735d448042a6c3256e40839d9d51c629aaab52c6482db8b206} GDP (gross domestic product) of the capital and 15{3fa1768a34f590735d448042a6c3256e40839d9d51c629aaab52c6482db8b206} in the overall tourism sector – positive and impressive both

The Bureau membership not just includes Event organizers but integrates 60 hotels, event organizers (DMC and PCO companies), congress and social venues and other service providers such as transportation companies, AV suppliers, catering services and restaurants, and hostessing agencies

The list of Bureau partnerships and cooperation, with the key meetings industry stakeholders, has been rising, with each stakeholder bringing tremendous value-add on the table, pushing the destination to bigger heights; these include the Capital City of Prague, Ministry of Regional Development, CzechTourism agency and the Prague City Tourism

The average room rate (ARR) in Prague, has been CZK 1,990 (€ 76.5) between 2011 and 2018, and this is great as compared to industry norms. The room nights generated an income exceeding CZK 1.2 billion (€ 47.5 million)

The media has been extremely encouraging for Prague as a destination and towards the efforts of the Bureau; 1,538 media articles have lauded the contributions of the Bureau and a total value of approximately 2,137,541 euros can be ascribed to the same for all practical purposes